Singapore will regulate ICO

Monetary Authority of Singapore released guidelines stating that initial coin offerings may be regulated and tokens may be considered securities
15 November 2017   948

On November 14, Monetary Authority of Singapore, whose mission is to promote sustained non-inflationary economic growth, released guidelines concerning digital token offerings. The guidelines also presented several case studies concerning cryptocurrencies and initial coin offerings.

As it was stated in the guide, tokens sold through the ICOs based on blockchain may be considered as securities under certain conditions based on the provisions of the country’s Securities and Futures Act and the Financial Advisers Act. Maintaining digital tokens may also be regulated by Monetary Authority of Singapore if the digital tokens are capital markets products under the SFA. As it is claimed, capital markets products include any securities, futures contracts and contracts or arrangements for purposes of leveraged foreign exchange trading.

Digital tokens that perform functions which may not be within MAS' regulatory purview may nonetheless be subject to other legislation for combating money laundering and terrorism financing.

A Guide To Digital Token Offerings

Previously, an official representing Monetary Authority of Singapore, which serves as the central bank and financial regulator of Singapore, used to claim that MAS had no plans of regulating cryptocurrencies.

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Bittrex to List LOOM

LOOM is the token of the American startup Loom Network, which launches decentralized applications
18 July 2018   165

Popular cryptocurrency exchange Bittrex listed Loom Network token LOOM. 

As the team of the exchange said, trading with the crypto currency will begin in the near future. On the background of this news, LOOM showed a price jump fo 14%.

LOOM Price Chart
LOOM Price Chart

LOOM is the token of the American startup Loom Network, which is launching decentralized applications.

In January, Bittrex tightened the criteria for listing new tokens. Now, developers need to provide technical information about the token itself, as well as the data of at least one team member. At the moment, the exchange has 290 digital coins.